Next Block Expo

Web3 can benefit from adopting Web2 optimization: NBX Berlin

User experience remains a barrier to entry for the world of Web3 and industry builders believe the solution lies in onboarding Web2 functionality.

Web3 products and services could benefit from the streamlined user experiences that have been mastered by Web2, according to several industry builders who attended Next Block Expo in Berlin.

Speaking to Cointelegraph at the event, Web3Auth senior cryptography engineer Matthias Geihs said Web3 services continue to be hamstrung by clunky login features and the associated responsibility and technicality of wallet and private key management.

During his presentation, Geihs cited data that suggests 20% of Bitcoin lost by users is a result of poor wallet management. At the same time, many Web3 services suffer significant drop-off rates of potential users at the sign-up stage on their websites and platforms.

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Bitcoin halving, BTC ETF hype driving price up into 2024 — NBX Berlin

Several macro events are contributing to increased interest in Bitcoin, its price and a knock-on effect on the wider markets.

The potential approval of spot Bitcoin exchange-traded funds (ETFs), the looming BTC mining reward halving and major regulatory and enforcement actions have a profound psychological effect on market prices. 

This is a key takeaway from the Next Block Expo conference in Berlin, just as Bitcoin tipped past $42,000 for the first time in over a year.

Animoca Brands CEO Robby Yung, gumi Cryptos Capital managing partner Miko Matsumura, Binance regional manager Jonas Jünger, and Polkastarter business development lead João Leite weighed in on whether the current cryptocurrency bear market was coming to an end in a conversation with Cointelegraph.

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